Analysts Set EchoStar Co. (NASDAQ:SATS) PT at $23.75

EchoStar Co. (NASDAQ:SATS) has received a consensus rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $23.75.

SATS has been the subject of several research reports. UBS Group boosted their target price on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, January 13th. StockNews.com raised EchoStar to a “sell” rating in a report on Saturday, November 9th. Morgan Stanley initiated coverage on EchoStar in a report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 target price for the company. Raymond James downgraded EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, TD Cowen reduced their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Insider Buying and Selling at EchoStar

In related news, Chairman Charles W. Ergen acquired 1,551,355 shares of EchoStar stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the purchase, the chairman now directly owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 55.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On EchoStar

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of EchoStar by 54.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 789 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of EchoStar during the second quarter worth $89,000. SG Americas Securities LLC acquired a new stake in shares of EchoStar during the third quarter worth $165,000. KBC Group NV raised its position in shares of EchoStar by 65.1% in the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock worth $153,000 after buying an additional 2,635 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of EchoStar in the 2nd quarter worth $183,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Trading Down 1.6 %

NASDAQ:SATS opened at $27.66 on Thursday. The stock has a 50-day simple moving average of $24.04 and a 200-day simple moving average of $22.81. The stock has a market cap of $7.52 billion, a P/E ratio of -3.02 and a beta of 0.70. EchoStar has a 1 year low of $11.83 and a 1 year high of $30.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.